Savannah morning news. [volume] (Savannah) 1868-1887, 1887-03-19
BUYERS OF THE B. AND @.
KUMOR AGAIN RUNS TO THa
WILD WEST.

The Stayner-Iyea Syndicate Said to b.
After the Road Backed by q Millions
aire Manu- 1acturer or Rubber Goods-s
Chattanooga Claims that the TerminAg
People Have M sde the Scoops
NEwYoRK, ,March1S.-The followingde
tails OF the sale of the Baltimore and Ohio
railroad to the Stayner--Ives syndicate,
forming the latest story afloat concerning
this corporation, are given out this even.
ing. The first deposit OF $500, 000 has all
ready been paid, and she transfer OF the
road to the purchasers will soon be madet
The buyers are known only by their con.
neotion with the purchase of the Cincin1
natl. Hamilton and Dayton railroad
year ago. The backer OF these parties it
generally understood to be Christopher
Meyer, n millionaire rubber manufao.
turer ofthis city. Mr.. Stayner is also ana
old New Yorker He was at oneb tima
treasurer of the American Bank Notd
back OF the purchase OF any importapcssx
REFUSAL OF THE EXTENSION.
The parties holding an option on tna
road at first asked an extension, but
when Mr.. Garrett expl aimed that such q
large block could not remain tied ups
they withdrew their request. A promi4
nent member OF the Richmond Terminal
makes the following statement: "RumorS
OF dissension in the Board of Directors
are absolutely unfounded ana the utmosa
confidence in President Alfred Sully pres
walls among the members, aud The ex4
ecutlYe committee recently appointed
was intended TO and does harmOnize all
elements represented in tha
board. In taking from Mr,
Garrett an option to purchase control oe
the Baltimore and Ohio railroad in behaia
Of the Richmond and West Point Termi-
nal road. MIR. Sully acted for the bees
interests Of that company and with the
knowledge OF all the mem bers OF the
board, and the only hesitation ON the para
OF the Terminal people to conclude tho
bargain with Mr.. Garrett was that mot
sufficient time had been given to make q
thorough examination of the property td
be acquired"
A MANIP ULAToR or BIG DEALS.
He made further statement that ID
was through Mr.. Sully that the company
was freed from all entanglements; THAI
IL was enabled to acquire the Richmond
and DanVille stock, of which more than
42,O0O shares out of its issue OF 50,001
shares are now owned by the Terminal.
and that II was owing TO mis- efforts thas
the control OF the East Tennessee road
denoe OF disaffection or discomfort being
manifested by the stockholders, tbs
warmest expressions of confidence In the
President are constantly received.
sULLY SPEAKS.
For the first time since the BaItimors
and Ohio deal has been pending Alfred
oully to-day broke his silence 80 far as I'd
say: VI see that other parties claim to
have purchased control OF the Baltimore
and Ohio 1 think Ia m H.
posit on account. When the Terminal
Company decided not TO exercise their.
option told the Baltimore and Ohio peo-
pie that while we unanimously desired
to combine our Terminal properties with
the Baltimore and Ohio property, yet wGs
could not ask them to consider thenl4
selves In any way bound 10 leave the mat
ter open. Therefore, - any disposition
has been maee 80 is perfectly proper ana
right"
MoRTGAGING FROM THE JUMP.
Ii is stated that the purchasers Of the
Baltimore and OHIO road are busily en-
gagged in attempts to rsiee the balance OF
the first 81, 600 900, which is to be paid on
Monday. 70 Is also alleged that thew
are mortgaginG the property beforehand
In order TO raise tae money, and that a.
soon as they can get control disIntegrsl
ton Of the road will begin. a sterling
loan of $4,000, 900 on the Cincinnati. Hau,s
lltoD and Dayton stock is reported TO hava
been made TO the syndicate, the money I'd
be used IN payment for Baltimore and
Ohio stock. All the other railroad and
telegraph officials deny that they have
any interest in the deal, and so far as can
0e learned the purchase is tor speculative
purposes only.
At the Windsor Hotel ana other up.
town resorts of Wall aereet men the bur-
den OF all the street talk was the purchases
OF the Baltimore and Ohio property. The
general impression among outsiders was
that the lves-Stay ner- Meyer syndicate
had become the purchasing party but none
was found VINO would say he personally
knew OF the transaction. Judge Cowan.
Mr.. GarretDs lawyer, To whom 1t is be-
lIeved the deposit was paid, declined 10
talk OF the matter.
STILL ANOTHER VERSION.
CHATTANOOGA, Tenn, March 1s.--The
Times says 10 has positive information
that the Baltimore and Ohio Expresa
Company has acquired the express IRAN
cnise on the East Tennessee, Virginia and
Georgia railroad and all it's Connections
from the Southern Express Company. ID
VIII take charge OF the entire system
within thirty days. The Times saws thas
this strongly signifies that the Baltimore
and ONO has been absorbed by the Wesu
Point Terminal, as the latter recentIyac,
quired the East Tennessee, Virginia aud
Georgia railroad.